SVB Financial Group (NASDAQ:SIVB) Posts Quarterly Earnings Results, Misses Expectations By $0.74 EPS

SVB Financial Group (NASDAQ:SIVBGet Rating) announced its quarterly earnings results on Thursday. The bank reported $4.62 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.74), RTT News reports. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. SVB Financial Group had a net margin of 25.57% and a return on equity of 13.72%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.22 EPS.

SVB Financial Group Stock Performance

SVB Financial Group stock opened at $291.44 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a fifty day moving average price of $229.51 and a two-hundred day moving average price of $316.57. SVB Financial Group has a 52-week low of $198.10 and a 52-week high of $658.47. The firm has a market capitalization of $17.23 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.59 and a beta of 1.47.

Wall Street Analyst Weigh In

SIVB has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on SVB Financial Group from $265.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, December 7th. Janney Montgomery Scott cut SVB Financial Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $280.00 to $500.00 in a research report on Friday, October 21st. Wedbush decreased their target price on SVB Financial Group from $385.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. DA Davidson decreased their target price on SVB Financial Group to $240.00 in a research report on Monday, December 12th. Finally, JPMorgan Chase & Co. reduced their price objective on SVB Financial Group from $375.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $363.37.

Insiders Place Their Bets

In related news, Director Beverly Kay Matthews acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was purchased at an average cost of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the purchase, the director now directly owns 2,374 shares of the company’s stock, valued at approximately $550,910.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Beverly Kay Matthews acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was purchased at an average cost of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the purchase, the director now directly owns 2,374 shares of the company’s stock, valued at approximately $550,910.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Michelle Draper sold 2,414 shares of the firm’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $215.61, for a total value of $520,482.54. Following the completion of the sale, the chief marketing officer now owns 2,997 shares of the company’s stock, valued at $646,183.17. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of SVB Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its stake in shares of SVB Financial Group by 2.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 2,362 shares of the bank’s stock valued at $793,000 after buying an additional 64 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of SVB Financial Group by 5.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,117 shares of the bank’s stock valued at $711,000 after buying an additional 106 shares in the last quarter. Prudential PLC acquired a new stake in shares of SVB Financial Group in the first quarter valued at $704,000. Beacon Pointe Advisors LLC increased its stake in shares of SVB Financial Group by 9.8% in the first quarter. Beacon Pointe Advisors LLC now owns 985 shares of the bank’s stock valued at $551,000 after buying an additional 88 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in SVB Financial Group by 33.5% in the first quarter. Brown Brothers Harriman & Co. now owns 917 shares of the bank’s stock valued at $513,000 after acquiring an additional 230 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

About SVB Financial Group

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SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment consists of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.

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Earnings History for SVB Financial Group (NASDAQ:SIVB)

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